Equipment acquired on January 8 at a cost of $112,940 has an estimated useful life of 14 years, has an estimated residual value of $9,900, and is depreciated by the straight-line method. Question Content Area a. What was the book value of the equipment at December 31 the end of the fourth year? fill in the blank 1 of 1$ Question Content Area b. Assuming that the equipment was sold on April 1 of the fifth year for $74,940. 1. Journalize the entry to record depreciation for the 3 months until the sale date. If an amount box does not require an entry, leave it blank. Round your answers to the nearest whole dollar if required